HFC (Endeavour) CENTRAL CAPITAL PPI time barred where to now?

[ssbjham]

Hi everyone I hope someone can help me.

 

In 2003 we took out a loan for £35k with PPI for £6650 making the total loan £41650 over 120 months secured against the house.

What we hadn't realised was that the PPi only lasted 5 years of the loan.

 

We tried to claim on it twice but that didn't pay out.

What we have come to realise was That we believe we were missold it.

We were told at the time (on the phone) was that we couldn't have the loan unless we took out the PPI.

It was a single premium.

 

What I really need to know is do we have a case?

The court gave an adjournment to an eviction of our house so that we could pursue avenues of finding the money to pay off arrears that are connected with this loan. We told him at the time that we are going to pursue the mis selling.

 

Also as we paid a single premium that was added to the loan, if it finished after 5 years is it likely that we are still paying interest on that or possibly still paying it!!

 

Sorry if this is long winded just wanted to get down all the details.

The loan is due to end 2013

[Bosund]

Hi ssbjham,

 

Sorry I cannot be of any help but by bumping this thread maybe someone else with more knowledge than me will look in.

 

Bosun.

[ssbjham]

Can anyone help? We have a secured loan from Feb 2003 from EPF and we are in the process of claiming back PPI. We had a reply back today to our inital letter stating that we did in fact arrange the loan through CENTRAL CAPITAL W

who i guess are the brokers and we need to take up our complaint with them and that it has nothing to do with them CAN anyone tell me who utimately responsible I have found a letter from 2003 from independent finance with the same address as CENTRAL CAPITAl g uessing they are three same.com WHhat do we do now

e the same

[BankFodder]

Who sold you the PPI? The brokers? Go against them.

 

If they later try and pass the buck then go against both of them.

Don't use the FOS - rubbish.

 

Use the courts if necessary and don't be worried about suing them as joint defendants

[ssbjham]

OK thanks i‘ll go for the brokers first thing tomorrow.

[ssbjham]

Hi all can anyone help me i have sent off my first letter to central capital re PPI that was sold to us in feb 2003 for a secured loan.had their reply back today saying that the complaint is timed barred and that it also falls outside the jurisdiction of the FOS because the sale was conducted over a year prior to insurance regulation.com CAN anyone tell me what to do next

[dx100uk]

hehe

 

jokers

 

quote the limitations act 32c at them.

 

its not time barred.

 

dx

[ssbjham]

OK thank you I will.WHAT actually is that act ? Where can I find it? Thanks for your help.

[MARTIN3030]

Yes section 32c.

Your right of action is that you only became aware of a cause of action now.

You mistakenly paid the PPI without being aware of what you know now.

The 6 year ruling begins from when you first discovered that you were mistaken.

 

 

 

Here;

http://www.statutelaw.gov.uk/content.aspx?activeTextDocId=1355378

[MARTIN3030]

If you need help putting something together to respond-just ask here.

[ssbjham]

Brilliant thank you'll ssbjham

[postggj]

Not Only That

 

The Stat Of Limitatins Stop From When The Account Was Finished

Its Six Years From That Date

 

Money Laundering Regs

[ssbjham]

yes please would really appreciate some help with responding !

[MARTIN3030]

Can you confirm that this is your only thread for this ?

[MARTIN3030]

Ah I found so 3 threads merged.

[ssbjham]

thank you for merging the threads i wouldn't have known how to. Can anyone help me with the wording for my response to central capital?

[ssbjham]

Message for Martin3030

 

Hi, Are you able to help with the wording to a response to Central Capital following their letter to me that it is time barred ? I'm struggling a bit just how to word it so that it shows I 'm not going to be fobbed off:confused: or is there a template letter that I haven't found yet that I could use?

Thank you :-|

[MARTIN3030]

Yes ok there is no temp as such to address this,its usual to adapt one to suit.

I will sort one out for you this afternoon.

[ssbjham]

What now? I sent them my second letter quoting the Limitations Act and they have written back stating :- "The legal advice we have received our response has not changed and we would still deem your case to be time barred.

They then went on to quote the FOS website regarding time limits:

a) There are time limits for consumers to make a complaint - when is a complaint out of time?

Generally these time limits are

six months from your busines sending the consumer a final response and six years from the event the consumer is complaining about.

then goes on to say that I am complaining about an event more than six years ago.

Due to the time elapsed since the sale took mplace it is our opinion that the complaint is ime barred and therefore does not require a response.As the sale was conducted over a year prior to insurance regulation it will also fall outside the jurisdiction of the FOS.

Does anyone know what my next step should be? Please help!!!

[ozzywizard]

It does fall out of the jurisdiction of the FOS, however you do have a claim in your own right as the limitations act only comes into play when you discovered you had been missold.

 

They are clearly not listening to your letters as they feel they have won, I would send a "LETTER BEFORE ACTION" (lba) .

 

If you want to do this let us know and we can help you write one but you need yo read up on this forum for the process of what you are doing. take them to court for the PPI back plus interest plus stat interest.

 

Can you post up your orriginal letter please and dates you sent letters.

[MARTIN3030]

Of course they can cite the FOS Handbook.

You are citing Statute law-which has much more bite and teeth than the FOS-the difference between the FOS and the Courts is that you are VERY likely to get a result from the Court providing you do your homework-the FOS on the other hand are a waste of space.

You are unlikely to see a result on this score no matter HOW MUCH homework you do !!

[ssbjham]

Help with LETTER BEFORE ACTION would be appreciated, thank you. I'm posting the two letters thatI have been sent as requested. I have taken out all personal details.

5th February 2010

Dear Sir/Madam,

Account number :

We purchased the above policy from you in February 2003 but now believe that we were mis-sold the Payment Protection Insurance for the following reasons:

• We were not given the correct information when the policy was sold to us.
  

• We were not aware that this was a single premium policy that was to be added to the loan on drawdown and that it would accrue interest for the life of the loan.
  

• Your salesperson did not give us full information on what the policy would and would not cover, for example that the loan only covered the first five years of our loan term.
  

• The terms and conditions were not fully explained to us.
  

• Yours salesperson did not tell us the policy was optional.
  

• We were not asked whether we had any other insurance which would cover the loan.
  

• We were not told that we could buy Payment Protection Insurance elsewhere to cover the loan.
  

It has come to our notice that HFC (of which Endeavour Personal Finance is a subsidiary) have been fined by the FSA for failing to treat their customers fairly when selling Payment Protection Insurance and we do not believe that our policy was sold in our best interests.

Unless you can satisfactorily justify to us that the policy was fair and reasonable we are requesting a full refund of all premiums and subsequent interest on these payments that we

have paid to date. As we believe we have been deprived of this money. We also expect 8% statutory interest the amount a court would award, to be added to each payment made.

We look forward to a full and prompt response to this letter and for the matter to be concluded within six weeks or we shall be contacting the Financial Ombudsman to investigate our complaint.

Yours faihfully

2nd letter when refused.:

08/03/2010

Account number :

We are writing in response to your letter dated 24/02/2010 with regards to the insurance sold with our loan.

In response to your statement that our complaint is time barred , we must draw your attention to the Limitations Act 32c

Our right of action is as follows:

1) We only became aware that there was a course of action open to us recently.

2) We took out PPI without having the Key Facts explained to us.

3) The six year ruling begins from when we first discovered the PPI was sold to us in error ,not from the date it was sold to us. Therefore this claim is NOT time “barred”.

We do not feel you have offered a satisfactory answer to our claim and we request that you re-visit the complaint bearing in mind the information above.

If we do not receive a letter addressing the above concerns in the next fourteen days, we shall have no hesitation in taking the matter further.

Yours faithfully,

We are writing in response to your letter dated 24/02/2010 with regards to the insurance sold with our loan.

In response to your statement that our complaint is time barred , we must draw your attention to the Limitations Act 32c

Our right of action is as follows:

1) We only became aware that there was a course of action open to us recently.

2) We took out PPI without having the Key Facts explained to us.

3) The six year ruling begins from when we first discovered the PPI was sold to us in error ,not from the date it was sold to us. Therefore this claim is NOT time “barred”.

We do not feel you have offered a satisfactory answer to our claim and we request that you re-visit the complaint bearing in mind the information above.

If we do not receive a letter addressing the above concerns in the next fourteen days, we shall have no hesitation in taking the matter further.

Yours faithfully,

[dx100uk]

Help with LETTER BEFORE ACTION would be appreciated, thank you.

 

I'm posting the two letters that I have been sent as requested.

I have taken out all personal details.

 

5th February 2010

Dear Sir/Madam,

Account number :

We purchased the above policy from you in February 2003 but now believe that we were mis-sold the Payment Protection Insurance for the following reasons:

 

• We were not given the correct information when the policy was sold to us.

 

• We were not aware that this was a single premium policy that was to be added to the loan on drawdown and that it would accrue interest for the life of the loan.

 

• Your salesperson did not give us full information on what the policy would and would not cover, for example that the loan only covered the first five years of our loan term.

 

• The terms and conditions were not fully explained to us.

 

• Yours salesperson did not tell us the policy was optional.

 

• We were not asked whether we had any other insurance which would cover the loan.

 

• We were not told that we could buy Payment Protection Insurance elsewhere to cover the loan.

It has come to our notice that HFC (of which Endeavour Personal Finance is a subsidiary) have been fined by the FSA for failing to treat their customers fairly when selling Payment Protection Insurance and we do not believe that our policy was sold in our best interests.

 

We demand a full refund of all premiums and subsequent interest on these payments that we have paid to date. We have been deprived of this money & also demand 8% statutory interest, the amount a court would award, to be added to each payment from the date it was made to the date of this letter.

 

We look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or we shall be contacting the Financial Ombudsman to investigate our complaint.

 

Yours faithfully

 

2nd letter when refused.: 8/03/2010

Account number :

 

We are writing in response to your letter dated 24/02/2010 with regards to the insurance sold with our loan.

In response to your statement that our complaint is time barred , we must draw your attention to the Limitations Act 32c

 

Our right of action is as follows:

1) We only became aware that there was a course of action open to us recently.

2) We took out PPI without having the Key Facts explained to us.

3) The six year ruling begins from when we first discovered the PPI was sold to us in error ,not from the date it was sold to us. Therefore this claim is NOT time “barred”.

 

You have not offered a satisfactory answer to our claim and we demand that you re-visit the complaint upon the information above.

If we do not receive a letter addressing the above concerns in the next fourteen days, we shall have no hesitation in taking the matter further.

 

Yours faithfully,

 

We are writing in response to your letter dated 24/02/2010 with regards to the insurance sold with our loan.

In response to your statement that our complaint is time barred , we must draw your attention to the Limitations Act 32c

 

Our right of action is as follows:

1) We only became aware that there was a course of action open to us recently.

2) We took out PPI without having te Key Facts explained to us.

3) The six year ruling begins from when we first discovered the PPI was sold to us in error ,not from the date it was sold to us. Therefore this claim is NOT time “barred”.

 

You have not offered a satisfactory answer to our claim and we demand that you re-visit the complaint upon the information above.

If we do not receive a letter addressing the above concerns in the next fourteen days, we shall have no hesitation in taking the matter further.

 

Yours faithfully,

 

dx

[ssbjham]

Dear dx100uk.

 

I'm really sorry but I'm not really computer savvy.In my letter before action do I send my original letter with the additional red writing?

 

Thanks

SSBJHAM

[dx100uk]

its not a letter before action

its a demand to refund PPI.

 

the bits in red are ammendments that i think you should make.

just copy and paste each letter into word and print it.

and send them recorded post

the red bits do not need to be in red.

 

dx